TORONTO, CANADA — (Feb 2, 2016) — Antibe Therapeutics Inc. (“Antibe” or the “Company”) (TSXV: ATE, OTCQX: ATBPF), announces that it has completed the acquisition of the remainder 15% minority interest in Citagenix Inc. (“Citagenix”), a Montreal-based sales and distribution company with a focus on regenerative medicine. The Citagenix acquisition was previously announced in Antibe’s news releases of October 6, 2015 and October 16, 2015.
Antibe had previously purchased 85% of the common shares and 100% of the preferred shares of Citagenix. Antibe had agreed to purchase the remaining 15% of the common shares of Citagenix subject to the controlling person of the vendor, OCFS Oral Cranial Facial Systems Inc., clearing a Personal Information Form (“PIF”) with the TSX Venture Exchange. Antibe has paid for this 15% minority interest by issuing 2,857,500 Antibe common shares at a deemed price of $0.20 per common share. With completion of today’s acquisition, Citagenix has become a wholly-owned subsidiary of Antibe.
For further details concerning the Citagenix acquisition, please see Antibe’s news releases of October 6, 2015 and October 16, 2015.
About Antibe Therapeutics Inc.
Antibe develops safer medicines for pain and inflammation. Antibe’s technology involves linking a hydrogen sulfide-releasing molecule to an existing drug to produce a patented, improved medicine. Antibe’s lead drug ATB-346 targets the global need for a safer drug for chronic pain and inflammation. ATB-352, the second drug in Antibe’s pipeline, targets the urgent global need for a safer, non-addictive analgesic for treating severe acute pain, while ATB-340 is a GI-safe derivative of aspirin. www.antibethera.com
Antibe’s subsidiary, Citagenix Inc. (“Citagenix”), is a leader in the sales and marketing of tissue regenerative products servicing the orthopedic and dental marketplaces. Since its inception in 1997, Citagenix has become an important source of knowledge and experience for bone regeneration in the Canadian medical device industry. Citagenix is active in 15 countries, operating in Canada through its direct sales teams, and internationally via a network of distributor partnerships. www.citagenix.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain forward-looking statements, which may include, but are not limited to, the growth of product sales, engaging new distributors and independent representatives, the completion of financing transactions and the licensing and development of drugs and medical devices. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “will”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “propose” and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company’s ability to secure additional financing, its inability to execute its business strategy and successfully compete in the market, and risks associated with drug and medical device development generally. Antibe Therapeutics Inc. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
Antibe Therapeutics Inc.
Chief Executive Officer
Tel: +1 416-473-4095
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